As I said before - I don't usually scalp and haven't tested this on the 5m TF. But what I do know is you will have to be much quicker in cutting trades short. Scalping by nature requires a greater level of flexibility and responsiveness. Ranging and ...

Pure & simple Abonacci system

Hi Berci - it doesn't really matter which level you use as baseline as long as your Abonacci phases fit within the MM levels

Pure & simple Abonacci system

I've finally got round to updating the template in the first post to have the MM Level settings as default. I've left the instructions as it doesn't hurt for people to know how to set up the indicators, but with the template they won't have to go ...

Pure & simple Abonacci system

As is clear in the thread - you can't calculate the baselines - you will have to start drawing lines from the baselines bobi has given here.

Are support and resistance levels predetermined?

Hi Jay - I suppose it depends how you define a 'fail'. For me, as there are still larger template targets below them, I still think they will get hit this year - so I would call them more 'not living up to expectation' as opposed to 'failed' . ...

Are support and resistance levels predetermined?

I guess so. All the indicator does is draw the lines from the baseline.

Are support and resistance levels predetermined?

Thanks for spotting that Mehmed - I've updated it.

Are support and resistance levels predetermined?

My weekly analysis - not a lot of change since last weekend. image image image

Are support and resistance levels predetermined?

Hi - I have not heard of anyone else having problems with it - and I have it loaded on build 610. I notice you are having the same issues with alot of indicators and tempaltes from other threads as well, so perhaps the is a problem with your MT4 ...

Pure & simple Abonacci system

That'd be great fx01 if you could have a go - even if you got the basics done, I could post any refinements or developments on mql5.com. Thanks for your input.

Pure & simple Abonacci system

Good to have you here Zeke.

Pure & simple Abonacci system

Hi Luca The length parameters are set by the MM Levels - they are (or are multiples of) the distance between Murrey Math Levels. I am not sure how often the levels will change - not often though - and when they do you will see it on the chart, and ...

Pure & simple Abonacci system

Great - thanks for the script. That is going to be so useful. As far as bactesting before goes, I've used MT4i - this still works but even with the speed turned up to full it runs so slowly - but that might be the machine I have it on. I normally ...

Pure & simple Abonacci system

Hi all Has anyone got/know a good backtester for MT4, preferably one that I can put use pending orders for? None of the ones I've used previously seem to work with the new build!! Thanks Steve

Pure & simple Abonacci system

Does this work? If not, can you post a chart so I can see what you're looking at?

Pure & simple Abonacci system

Hi jeetvirk - as long as the baseline is the same as one of the MM levels - it won't make any difference. The baseline simply gives a place to start the Abonacci phases from, and we are looking for 1,2,3 etc complete phases to fit between the MM ...

Pure & simple Abonacci system

Or do you mean that if you have a long signal (0.50), and it fails, hits your SL and triggers a short signal, you will take the short (1.0). Or do you double up only in the direction of the first trade?

Are support and resistance levels predetermined?

Helpful post JMSS59 - the MM can be the achilles heel for Abonacci. Just to clarify, you will have 4 attempts at a level 0.5, 1, 2, and 4 for the final one?

Are support and resistance levels predetermined?

The MM levels won't always be the same - they are based on calculations from the last 256 trading days, which means they are likely to remain the same for some time. If they change we will spot it. What I would like to be be able to caluclate the MM ...

Pure & simple Abonacci system

T4F is used for detecting trend change and is based on a failed setup. This doesn't apply to T5_103F though. Any T5_103F signal is valid, but its always sensible to aim for the ones that are in line with a larger template target.

Are support and resistance levels predetermined?